Mayor Mike Muzychka found a few things in the federal budget that interested him. However, he suspects the Liberal government is saving "the big fireworks" for next year, when an election is scheduled to be held.
The budget was presented Feb. 27 in Ottawa.
Aspects of the budget that stood out for him are:
A cost of living increase in the Canada Child Benefit.
The working Income Tax Benefit being replaced by the Canada Workers Benefit, resulting in an increase of about $700 to low-income families.
The fact that passive income in corporations will be taxed at the current rate up to $50,000, then go up to the top rate.
Families seeking parental leave will get an extra five weeks' worth of Employment Insurance, an incentive for new fathers to take parental leave.
Smokers will pay more than $2 more for a carton of cigarettes.
Muzychka could not find anything "agricultural-related" in the budget.
And as far as he could tell, the budget did not contain a plan to balance the budget. The budget projects a shortfall of $18.1 billion during 2018-19. It's anticipated that figure will gradually decline to $12.3 billlion in 2022-23.
"The current government seems content to ‘kick the can down the street' when it comes to a balanced budget," he wrote in an email.
"The current government seems content to ‘kick the can down the street' when it comes to a balanced budget."
MIKE MUZYCHKA
MAYOR
TOWN OF OLDS
